Indian markets start weak, Sensex down 300, Nifty under 23,900
The Indian stock market had a shaky start this week; Sensex dropped by 300 points and Nifty slipped under the important 23,900 mark.
By late morning, Sensex managed a slight bounce back, but Nifty stayed just below that level.
Overall, it was a mixed bag for investors with some stocks rising and others falling.
U.S.-Iran talks, foreign investor selling
Uncertainty around a possible U.S.-Iran peace deal and ongoing foreign investor selling put pressure on the markets.
Even though there's hope for lower oil prices if talks succeed (Brent crude dipped to $93 a barrel), big investors pulled out over ₹1,000 crore in one day, adding to this year's $24.3 billion outflow.
Analysts say Nifty needs to break past 24,000 for real recovery, but global politics and oil prices are still keeping everyone on edge.